Our Partners

Bandhan Life Insurance (Formerly known as Aegon Life Insurance), is a notable life insurance company. It offers a range of term insurance as well as savings plans to help individuals achieve their financial goals. The company features an impressive claim settlement ratio of 99.37% for FY22-23.


Savings policies are a type of insurance that offers the dual benefit of growing one's funds while staying insured. These offer a guaranteed amount at either maturity or surrender. This can be useful for meeting all long-term and short-term financial objectives. Such plans also ensure flexibility along with the options of add-on covers. Discover the available savings plans on Bajaj Markets today.

Savings Plans Available on Bajaj Markets

Insurance Partner

Savings Plan


Claim Settlement Ratio (FY22-23)

Bandhan Life Insurance Limited

iGuarantee Max Savings



*The premiums stated in the table above are indicative and may change as per the insurance company’s terms and conditions.

Features and Benefits

The following are some of the features and benefits of savings policies:

Two-in-one Coverage

Savings plans offer the double advantage of earning returns as well as insurance coverage. This can be quite beneficial for meeting varied life goals.

Maturity Benefit

Unlike term insurance, savings plans typically provide maturity benefits to policyholders. This shall be payable to them on surviving to the date of maturity. It comprises the base sum assured, loyalty Read More additions, and guaranteed additions. Read Less

Flexible Option

Issuers may provide policyholders the flexibility to choose their premium payment terms as per their needs. These can either be on a monthly, half-yearly or yearly basis. Moreover, they can choose thei Read Morer preferred policy term as well. Read Less

Tax-saving Advantages

Policyholders can enjoy tax-saving benefits under Section 80(C) and Section 10(10D) as per applicable laws.

Add-on Covers

Individuals can opt to enhance their coverage by choosing add-on covers. These can be an Accidental Death Benefit Cover and Critical Illness Cover. Such covers can raise the sum assured or provide waiv Read Moreers on premiums under special circumstances, among others. Read Less

Eligibility Criteria

The following are the eligibility criteria for obtaining a savings policy:

1. Entry Age

  • Minimum – 3 months

  • Maximum – 50 years (45 years for Regular Pay)

2. Maturity Age

  • Minimum – 18

  • Maximum – 70 (65 years for Regular Pay)

Documents Required for Filing a Death Claim

Here are the documents that policyholders’ beneficiaries may be asked to present while filing a death claim:

Benefits Claimed

Documents Required

Natural Death

  1. Claimant statement form

  2. Copy of death certificate provided by the municipal corporation under section 12/17 

  3. Claimant’s KYC documents (Mandatory) 

I. Form No. 60 or PAN

II. Copy of any one of these (Address and identity proof of claimant):

a. Proof of possession of Aadhaar number issued by the Unique Identification Authority of India / Aadhaar Card

b. Passport (unexpired)

c. Driver’s License (unexpired)

d. Voter Identity Card 

e. NREGA job card duly signed by a State Government officer

 III.Claimant’s recent photograph

  1. Passbook copy of the claimant/Copy of self-attested cancelled cheque

  2. Relationship proof (wherever applicable)

Sudden Death/Death

due to illness

1. Cause of death certificate issued by the treating doctor

2. Medical records history (Admission notes, discharge/ death summary

 test reports, etc.)

3. Death claim statement by the insurance company’s appointed physician

4. Hospital treatment statement by the insurance company for death claim

Death due to Accident / Suicide

1. Panchnama

2. Inquest report

3. Newspaper clipping

4. Copy of Post Mortem Report

5. Copy of First Information Report (FIR)

How to Apply for a Savings Plan on Bajaj Markets

  1. Visit Bajaj Markets’ home page and scroll down to the list of Insurance partners

  2. Click on your preferred savings policy provider and select ‘Get Quote’ under the product name

  3. Provide details such as name, phone number, date of birth, email address, and pincode

  4. Enter the OTP sent to your phone number

  5. Choose from the term insurance plan offered by the provider


That’s it! A representative will contact you for further details and process your application.

FAQs on Savings Policies

Why do I need a savings plan?

Opting for a savings plan can be beneficial for those looking to grow their savings, while also getting insurance. It is a cost-effective way to save on premiums and get tax benefits as well.

How is a savings plan different from term insurance?

Term insurance provides financial protection to the policyholder’s family in the case of their demise. This is in the form of a death benefit. On the other hand, savings plans focus on growing one’s wealth over time, while also providing insurance. These also feature maturity benefits, unlike term insurance.

How can I choose the best savings plans?

While looking out for the best savings plan, it is recommended to find the one that helps you save for a specific requirement. You must consider your risk appetite and other factors. These can be tax-saving benefits, flexible premium payments, terms, etc.

Loan Offer
Download App